Moody’s Upgrades Kaskaskia College Credit Rating to Aa3

CENTRALIA, IL - (October 20, 2025) Kaskaskia College is proud to announce that Moody's Ratings has upgraded the College's General Obligation Unlimited Tax (GOULT) bond rating to Aa3 from A1, placing KC among the nation's highest-rated community colleges. The upgrade reflects the institution's sustained financial growth, strong reserves, and continued enrollment momentum.

According to Moody's, the upgrade was driven by the sustained improvement in the districts financial position and the expectation that reserves will remain strong, supported by a recent tuition increase and a solid enrollment trend. The report also highlighted Kaskaskia's "very strong reserve position, moderate debt level, and consistent tax base growth."

As of Fiscal Year 2024, Kaskaskia College held approximately $35 million in total debt, remaining below the 50% bond capacity threshold - a milestone set when the College launched its three-phase campus modernization plan in 2021. The rating agency cited KC's continued fiscal responsibility, strong state funding environment, and effective leadership as major contributing factors to the upgrade.

Board of Trustees Chairman Bill Hawley praised the achievement, stating, "This upgrade reflects Kaskaskia College's commitment to responsible stewardship and long-term planning. The College's leadership team and staff have worked diligently to strengthen our financial standing while continuing to invest in modern facilities and student success. This recognition affirms that we are on the right path for the future."

KC President George Evans added, "Achieving an Aa3 rating demonstrates the power of strategic planning, accountability, and teamwork across every level of the College. Our board and employees have consistently focused on building a strong, sustainable foundation for Kaskaskia's future, and this milestone validates that effort."

Looking ahead, Kaskaskia College will continue advancing its campus modernization initiatives and exploring long-term space planning for programs that are nearly reaching capacity due to growing program demand. The College also anticipates completing several Illinois Capital Development Board projects in the coming year, including roof, HVAC, parking lot, and infrastructure improvements.

Located in Centralia with six education centers serving nine counties, Kaskaskia College supports over 9,000 students annually including dual credit and workforce learners. KC continues to strengthen its financial position through responsible budgeting, enrollment growth, and strategic facility investments to enhance learning opportunities across its district.

For more information about Kaskaskia College and its ongoing modernization projects, visit www.kaskaskia.edu.